I'm sure its been cleared with Newmont. They would have been aware at TO of Greatlands commitment to update the resource estimate to its shareholders. Most likely the next one will be a joint statement. Haveiron is just one small part of Newmonts jigsaw but a very big part of Greatlands. I still think a buyout of Haveiron is on the cards for Newmont. Especially as its open at depth.
Lots of small sells going through. The 5% sellers will dry up soon and the next move upwards will begin towards 11.5p. The sells are being taken without a major effect on the price so someone is building a stake. Possible large buy at COP.
Thanks Lyndon. 11p and 12p are psychologically points of resistance. Many investors set their stop loss points at whole numbers. GGP has a way to run given the potential of their many assets and the relevant news related to them. I for one will not be setting any stop losses for some time.
From Wyloos website;
Wyloo will subscribe for 430,024,390 ordinary shares, priced at 8.2 pence per share, totalling A$60 million and approximately 8.6% of Greatland’s shares on issue.
Wyloo will also receive warrants to subscribe for an additional 352,620,000 ordinary shares at an exercise price of 10.0 pence per share which, if exercised in full, will realise gross proceeds of approximately A$60m (c.£35m).
Presumably these are new shares. Am I reading this right...they have paid 8.2p per share and can exercise options at 10p. A fair bit above the current price and I would expect the share price to move quickly towards the 8p mark. Wyloo would expect to at least double their money!!
'All income of all types above the annual threshold should be taxed at 30% and anything over 100,000 at 40% and anything over 250,000 at 50%.'
Talk about hammering the poor and low earners!!
When did Berenberg value Greatland at 22p. Was it after NM started their vauation analysis of NC's assets or before. I've not seen their report that arrives at that valuation but presumably it must revolve solely around Haverion as their other assets are unknown quantities at the moment. In addition asset valuation reports are usually an undersestimate in my experience. Do Berenberg get to see any priviledged data and information or do they work on what is purely in the public domain?
Not only is the data out of date they will have downplayed the asset potential given that Greatland was the only company they negotiated to buy a further % from. Now they are in the likely process of selling the company the strategy and value they place on the asset indeed all their assets, will be to the top end.
Whilst they thought it too expensive to buy the 5% at $60m they would surely be putting at least that sort of figure in the equation to sell the asset , if not more. It must be plus the CAPEX to date. We have had more successful drill results since that estimation expanding the asset I believe.
Whilst you can work out the value of NC as a whole how can you work out the value of an individual asset I.e.Haveiron. Presumably NC will have had to put a value on what they believe is likely to be the real size of the asset. Are we likely to see that estimation?